TransAct Technologies (NASDAQ:TACT) Announces Earnings Results
by Amy Steele · The Cerbat GemTransAct Technologies (NASDAQ:TACT – Get Free Report) issued its quarterly earnings results on Tuesday. The technology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.11, FiscalAI reports. The company had revenue of $14.42 million during the quarter, compared to analyst estimates of $12.60 million. TransAct Technologies had a negative net margin of 2.41% and a negative return on equity of 3.96%.
TransAct Technologies Stock Performance
Shares of NASDAQ:TACT traded up $0.09 during mid-day trading on Tuesday, hitting $3.37. The stock had a trading volume of 216,994 shares, compared to its average volume of 40,332. TransAct Technologies has a 12-month low of $3.06 and a 12-month high of $5.70. The company has a market cap of $34.64 million, a PE ratio of -28.08 and a beta of 1.16. The company’s 50 day moving average is $3.36 and its 200-day moving average is $3.82.
Insider Transactions at TransAct Technologies
In related news, CEO John Dillon bought 70,902 shares of the business’s stock in a transaction on Monday, March 16th. The stock was bought at an average price of $3.49 per share, for a total transaction of $247,447.98. Following the transaction, the chief executive officer directly owned 100,000 shares in the company, valued at $349,000. This represents a 243.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 19.24% of the stock is currently owned by insiders.
Institutional Investors Weigh In On TransAct Technologies
Several large investors have recently made changes to their positions in TACT. Arrowstreet Capital Limited Partnership bought a new stake in shares of TransAct Technologies in the 3rd quarter valued at approximately $151,000. Susquehanna International Group LLP bought a new position in shares of TransAct Technologies during the 3rd quarter valued at $225,000. NewEdge Advisors LLC bought a new position in shares of TransAct Technologies during the 3rd quarter valued at $290,000. Coldstream Capital Management Inc. bought a new position in shares of TransAct Technologies during the 3rd quarter valued at $58,000. Finally, Geode Capital Management LLC raised its holdings in shares of TransAct Technologies by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 115,552 shares of the technology company’s stock valued at $462,000 after purchasing an additional 4,742 shares in the last quarter. Institutional investors own 74.46% of the company’s stock.
Wall Street Analyst Weigh In
TACT has been the subject of a number of research analyst reports. Zacks Research lowered shares of TransAct Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TransAct Technologies in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.00.
View Our Latest Stock Analysis on TACT
About TransAct Technologies
TransAct Technologies Inc designs, manufactures and distributes secure card issuance systems and embedded transactional printing solutions for a variety of industries. The company’s portfolio includes high-speed card printers, card personalization and issuance software, as well as embedded printers used in kiosks, point-of-sale terminals, lottery machines and gaming applications. TransAct’s products are built to deliver reliable, on-demand printing and secure card encoding for markets that require rapid, accurate issuance of payment cards, identification badges and tickets.
Within its secure card solutions segment, TransAct offers turnkey systems that integrate card printing, magnetic stripe encoding, smart card personalization and instant card issuance software.
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